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Latest - PENSIONS

  • Millennials want ‘confusing’ pensions explained in the workplace

    9 September 2018

    Millennials would like to see their employer offer more support around pensions, with nearly a quarter admitting to finding pension rules confusing, according to new research from Prudential.  Prudential’s study found nearly seven out of 10 (69%) of under-35s are saving into a pension either through work or in a personal scheme, but over...

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  • Rory Percival provides insight into FCA thinking on Defined Benefit Transfers suitability

    7 September 2018

    Defined benefit (DB) transfers remain topical and the Financial Conduct Authority (FCA) continue to find problems in this market. Rory Percival provides an update on the policy developments and the FCA’s thinking. The FCA introduced new rules and guidance in its Policy Statement in March 2018 and has also included further assessing suitability guidance...

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  • Criterion and TeX join forces in support of TRIG transfers framework

    6 September 2018

    Criterion and TeX have announced a joint proposal to support the industry in the adoption of the Transfers and Re-registration Industry Group (TRIG) new transfers framework, published in June. The two bodies said they stand fully behind the recommendations of the TRIG framework, which include end-to-end standard timescales for as many re-registrations/transfers as possible....

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  • What makes clients feel financially secure?

    5 September 2018

    Pensions advice specialist Portafina has found that having savings is the leading factor behind making clients feel financially secure.  In a survey exploring the financial achievements and life goals that help people’s financial confidence, an overwhelming 72% cited savings. The average amount of savings that those polled said they would need to feel stable...

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  • Pension Dashboard will go ahead

    5 September 2018

    In a Commons statement Work and Pensions Secretary Esther McVeyhas said the government will be backing the industry to deliver a Pensions Dashboard.  The statement said the industry-led dashboard would be “facilitated” by government, harnessing “the best of industry innovation” and that Government would ensure “that the interests of pension holders are safeguarded and...

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  • ‘Simply Saving’ plan to slash pension tax relief would save Govt £10bn

    4 September 2018

    Pension tax relief reforms put forward by a leading think tank could increase distrust and complicate the pensions system, industry commentators have warned.  The Centre for Policy Studies has proposed abolishing tax relief on pensions and replacing it with bonuses on individual and employer retirement savings contributions and a Workplace ISA. In its “Five...

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  • Cashcalc enables users to create own suite of tools

    4 September 2018

    Cashflow planning software provider CashCalc has launched a modularised approach to enable users to create their own suite of tools according to their needs. The decision to modularise means advisers can create a suite of financial planning tools ideal for them and only pay for what is in their package. The entire suite of...

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  • Employers baulk at paying for workers’ financial advice

    3 September 2018

    Nearly three quarters of employers are not willing to pay for financial advice for their employees, despite recognising the benefits of doing so. According to research by Chase de Vere and research group Lightbulb, just 27% of employers plan to include a cost for financial advice for employees in their 2018/19 budget. This was...

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